Aspen Technology Given New $52.00 Price Target at Canaccord Genuity (AZPN)
Stock analysts at Canaccord Genuity hoisted their price objective on shares of Aspen Technology (NASDAQ:AZPN) from $50.00 to $52.00 in a report issued on Friday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective points to a potential upside of 25.01% from the stock’s previous close.
Aspen Technology (NASDAQ:AZPN) traded up 9.55% during mid-day trading on Friday, hitting $45.57. 1,321,146 shares of the company’s stock traded hands. Aspen Technology has a 52-week low of $26.55 and a 52-week high of $43.32. The stock has a 50-day moving average of $41.5 and a 200-day moving average of $36.74. The company has a market cap of $4.238 billion and a P/E ratio of 71.72.
Aspen Technology (NASDAQ:AZPN) last released its earnings data on Thursday, January 30th. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.08. The company had revenue of $98.80 million for the quarter, compared to the consensus estimate of $88.53 million. On average, analysts predict that Aspen Technology will post $0.72 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Cross Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, November 19th. Separately, analysts at Cowen and Company raised their price target on shares of Aspen Technology from $38.00 to $42.00 in a research note to investors on Friday, November 8th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG upgraded shares of Aspen Technology to a “buy” rating in a research note to investors on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $44.77.
Aspen Technology, Inc, is a provider of process optimization software solutions. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, engineering and construction industries.
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